Can I do a backdoor Roth IRA if I have a traditional SEP IRA?

[greenjb]

Last year, I rolled my traditional IRA into my company's 401(k) in preparation for doing a backdoor Roth. I probably should have converted the Roth right away, but I didn't -- and then, to limit tax exposure on a work bonus, I opened a (traditional) SEP IRA. Does anyone know whether the existence of the SEP IRA prevents me from carrying out the backdoor Roth conversion? And if so, is it possible to roll a SEP into a 401(K) and THEN do it? Thanks for any expert advice....

[seattlecyclone]

Pre-tax SEP IRA balances count toward the pro-rata rule just the same as pre-tax traditional IRA balances. You'd have to ask your 401(k) administrator about the possibility of rolling your SEP into there; I'm not aware of any law that would prohibit this but each plan makes their own rules.

[greenjb]

Thanks guys -- I'll call plan administrator in the morning.